Why I have to pay $667/month for leasing a $33500 car for 3 years?
I was in a rush to get a car on 2018 and chose to lease a Chevy Volt for 3 years with 72000KM in 2.5% lease rate. At the beginning, I had no idea whether or not $667/month is fair amount for leasing this Volt. but a few months later, I felt something wrong. How come I am paying more than leasing those luxury car, like BMW, Audi. I know I might be rib off, but don't know which part went wrong. I was able to talk the car down to $33500 but still need to pay $667/month for the leasing.
Looking at the contract. I think there's something not right on the "Estimate Residual Value of the Vehicle". the car is only valued $11974 after 3 years. but look at the used car market today, they are selling 2018 Volt for around $22000.
is this "Estimate Residual Value of the Vehicle" negotiable too?
anything else I should learn from this awful leasing?
Actually, the car is pretty good, but just think it's not worth to pay such a high leasing fee. Any comments are welcome.